Actuaries
SOC Code: 15-2011Also known as:
Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuarial Intern, Actuarial Mathematician
Median Annual Salary
$125,770
+21.8% growth (2024-2034)
2K
Openings/Year
34K
Current Jobs
What Actuaries Do
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
💰 Salary
$125,770
Median annual wage (2024)
📈 Job Growth
+21.8%
Much faster than average
🎓 Education
Bachelor's degree
Typical entry-level requirement
🚀 Annual Openings
2K
Projected average per year
📚 On-the-Job Training
Long-term on-the-job training
Expected training period
Employment Projections (2024-2034)
Current Employment (2024)
33,600
Projected Employment (2034)
40,900
Related Careers
Compensation, benefits, and job analysis specialists
$77,020 •
+5.3% growth
Accountants and auditors
$81,680 •
+4.6% growth
Financial and investment analysts
$101,350 •
+5.7% growth
Personal financial advisors
$102,140 •
+9.6% growth
Financial risk specialists
$106,000 •
+6.5% growth
Top Skills Required
Reading Comprehension
Mathematics
Critical Thinking
Judgment and Decision Making
Active Listening
Daily Tasks & Responsibilities
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Negotiate terms and conditions of reinsurance with other companies.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
Technology & Tools
📚 Entry-Level Education
Bachelor's degree
Most common requirement
🎯 Recommended Education
Bachelor's Degree
O*NET recommended level
Degree Programs for Actuaries
These degree programs can prepare you for a career as a actuaries:
Statistics, General
7,709 degrees awarded •
202 colleges offer this program
Applied Mathematics, General
4,209 degrees awarded •
218 colleges offer this program
Actuarial Science
1,363 degrees awarded •
123 colleges offer this program
Mathematics and Statistics
871 degrees awarded •
45 colleges offer this program
Computational and Applied Mathematics
824 degrees awarded •
46 colleges offer this program
Applied Statistics, General
572 degrees awarded •
31 colleges offer this program
Statistics, Other
565 degrees awarded •
31 colleges offer this program
Mathematical Statistics and Probability
458 degrees awarded •
16 colleges offer this program
Risk Management
180 degrees awarded •
13 colleges offer this program
Best Colleges for Becoming a Actuaries
Ranked by Repit grade, then by degrees in related programs. These are the top-rated colleges that prepare students to become actuaries.
Want this ranking as a spreadsheet? Investor Pro+ members can export any Repit table to CSV. See plans →
Frequently Asked Questions
How much do actuaries make?
The median annual salary for actuaries is $125,770.
What education do actuaries need?
Most actuaries positions require a bachelor's degree.
Common degree programs include Statistics, General, Applied Mathematics, General, Actuarial Science.
Is becoming actuaries a good career choice?
Actuaries is projected to see +21.8% job growth from 2024 to 2034,
which is much faster than average for all occupations. With approximately 2,400 job openings expected annually,
there are good opportunities for those entering the field.
What are the best colleges for actuaries?
Top colleges for aspiring actuaries include
University of California-Los Angeles, University of Michigan-Ann Arbor, Columbia University in the City of New York, University of California-Santa Barbara, University of California-Berkeley.
These schools are ranked based on their Repit grade and the number of graduates in related programs.
What other job titles are similar to actuaries?
Actuaries may also be known as: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuarial Intern, Actuarial Mathematician, Actuarial Specialist, Actuary, Annuity Analyst, Consulting Actuary, Corporate Actuary, Enrolled Actuary, Forecast Analyst, Health Actuary, Insurance Actuary, Life Actuary, Pricing Actuarial Analyst, Pricing Actuary, Product Development Actuary, Reserving Actuary.
These titles often refer to similar roles with varying responsibilities or specializations.